Prada’s looking riper and riper for acquisition. Or at least a spin around the stock market.The Italian fashion house which deflected rumors earlier this year that it might be bought by luxury conglomerate Richemont, saw sales increase by 36% during the first quarter of 2010 to $452.7 million.
The company is attributing current successes to its focus on its own boutiques and away from the business of wholesale, which is still a weak spot in retail. Sales increased by a whopping 62% in Asia, 33% here in the US, and an impressive 18% in Europe, Prada’s most mature market.
A sharper sales strategy is surely the main reason why Prada is doing so well, but fashionista can’t help but think it also has something to do with the shoes, sunglasses, and Victoria Traina!
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